They won't make the payment - they will take the same path as SFYWQ (old SFY). They will file for Chapter 11 and go for a Debt for Equity swap. That's my opinion.
You are crazy if you think low oil will have any impact on America. We are pocketing $20-40 in savings every time we go to the pump. The oil companies will go into survival mode, then reappear as soon as oil hits an economical price.
Here's what is happening - the Saudi Royal Families are going to go public with their state run oil companies. These Royal Families are going to cash out. They will take their cash and flee the country. They will leave their country in ruin, the people are incapable of fending for themselves, and their oil revenues will not come close to supporting their freeloading public assistance.
The Saudi's and the other Middle East countries are in deep yogurt if they can't regulate their production. Their countries will be extreme turmoil.
Good luck - Gluggo
Last time I looked we the USA is only producing 30% of our daily consumption and the other 70% is imported. We went from 8.5mboe/d to near 9-10m/day. The Saudi's and the Russia's with some help from the other OPECs are pumping with total disregard to economics. They can pump 20% more and get 70% less to protect their market share. Doesn't make sense, except for the fact that it's everyone for themselves and there is no regulatory body over OPEC.
You read the articles where a few OPEC members are asking/lobbying for a March Emergency Meeting. The gist of the article is that no one is winning and they need to negotiate production quota's with other non-opec players. I think the current strategy is inflicting enough pain that everyone is will to come to the table and work together; otherwise they will all go broke.
SDOC hasn't Declared Chapter 11 have they? So far they have only hit .15 cent level which got them kicked off the NYSE. Maybe there is some speculative upside here.
Most likely - I hope these useless Phucks get paid for the number of useless posts that I know we all read and follow their advice. Ol Brad is going on ignore and when I see another similar post then Brad's twin will go on ignore.
Go look at MHR now MHRCQ, SD now SDOC, SFY now SFYWQ. Different scenarios but bottomline is tomorrow the stock will open up at around .03-06 cents, then go up/down depending on whether the companies decides to stay on pink sheets or fight to stay on the NYSE, and whether or not the company decides to file Chapter 11 to Restructure. Seems that is the game plan for all of these over leveraged E&P stocks. Good luck on getting your money out at this point.
SD is going the same route as SFY - SFTW - SFYWQ. Chapter 11 exit around 4/30/16. SFY went down to .04 now bouncing around .14-.16.
Is anyone buying down at this level - with the threat of BK/Chapter 7 held at bay - without understanding how the Warrants will come into play - is this buying point? And if its not - then what is reason for the elevated volumes and the price going from $.04 to $.15?
I not sure if its time to buy yet - but I don't know if you'll ever see a lower price. Question is why is the trading volume as high as it is? Would you want to see how the Warrants get factored in? Another question - is that I'm not seeing the Short Interest Numbers - anyone know what happened there?
Yep - thanks - I know - the volume was stuck at the same level for so long I thought things were happening again. Getting shell shocked.
Well I do remember in 2008 Swift like a whole bunch of other NG companies (i.e., SD) made the decision that NG was going down and they needed to shift to oil. So SFY had a lot of company in taking that direction.
Help me with the math -
Enterprise Value = 1.18 B
Of that $850M Debt + 330M Credit Line = 1.18B
9% Common (4% +5%mgt).
Would the 9% be on top of or off the 1.18B?
How many Shares Issued? ~500M
Price per share: 1.18B/500M?
So how do you think this will work? To me 4% of common is higher the .07-.20 cents / share.
Thanks - guys. I was thinking of buying and hoping for a recovery, but it looks and sounds like this is gone for broke; and broke.
Just wanted to hear from people who have been with this stock to the current price. Thoughts?